Fox cable hosts are doing the job of the chair of the White House Council of Economic Advisers, Jared Bernstein, by admitting that the economy under President Biden is strong. Bernstein joins MSNBC’s Ali Velshi to discuss the latest “expectation-busting” jobs report.
Here’s a Plain Bagel video on why the Evergrande liquidation isn’t as big a deal as lots of other people are hyping, at least to the world economy
No offense, but I’m so burnt out of this finance crap, everyone is lying, the whole thing is a pointless big casino. Reading anything about finance anywhere is as reliable as reading TASS (or Ukrainian) reports from the war in Ukraine.
Nothing ever is a big deal, then everything comes down and a bunch of flapjacks who caused it are laughing and drinking champagne above the sea of desperate people protesting the whole charade.
Economics is the one issue where I will actively not trust the experts. When so many of them were saying we were going to have a recession, I was starting to get suspicious. And it turned out, we didn’t have one, even though so many were so sure of it.
Generally speaking, the experts seem to fall into groupthink and miss the actual trends. I’ve seen forecasters at some of the biggest oil and gas companies make the stupidest calls ever. They apparently forgot that in a cyclical business, we were due for a bust after a boom. It caught them by total surprise.
Are you talking about 2008?
Yeah, those occupy pictures hit hard.
No mention of swaps, no mention of debt lending and loaning. Evergrand’s impact doesn’t just come from the shit it does in China with the real estate. As a publicly traded company, there are many financial instruments tied to that single stock that have nothing at all to do with the real estate side of things.
Evergrande stock has been all but worthless for over 2 years now, what shoe do you think is left to drop?